Fewer Singaporeans are able to comfortably spend on things beyond the basics, and more do not have sufficient emergency funds or enough savings to meet their families' needs over the next year, a survey by OCBC found.

According to the bank's annual Financial Wellness Index released on Wednesday (Nov 8), just 40 per cent of Singaporeans can afford to spend beyond the basics most of the time, down eight percentage points from 2022.

Nearly a quarter of respondents, or 23 per cent, said they can only afford the basics, while another 36 per cent said they have to save up for things beyond the basics.